Unless TMF supports criminal fraud.
In which case, the US economy will crash far worse than in 1929 or 2008.
1 Like
Have you heard that Leon has come right out and said if TFG gets in and Leon does what he wants with regards to “government efficiency” the economy and markets will tank for about 2 years. He has come right out and said that. So yeah, far worse than 1929 or 2008. If we are stupid enough to put the insurrectionist back in power the macro impact will be awful.
1 Like
Not so. The Great Depression didn’t bottom out until 1933, so things went down in 1929. And then things went down again in 1930. And then things went down again in 1931. And then then things went down again in 1932. So, things were worse in 1929…
DB2
4 Likes
Bravo Bob
You certainly made a point.
1 Like
The number that keeps getting flung about is reducing federal spending by $2T. What will be the impact of pulling that out of the economy and what sectors of the population will be feeling that impact? What will be the ripple effects of that on the GDP, employment, health, savings, and any other standards we use to measure quality of life?
To me this sounds like a recipe for a “God bless the child that’s has his own” economy.
1 Like
Would it really be pulled out of the economy? That money is in government hands either by taxation or borrowing. As of April 2024, foreign entities own 22.9% of US federal debt, so, if government borrowing is cut, because spending is cut, less than a quarter of the cut is really taken out of the US economy.
Steve
1 Like